MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 18
VEGOILS-Market Factors to Watch Dec 18
18/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended a three-day losing streak on Wednesday on a technical rebound although persistent weakness in crude oil capped the gains, with investors nervous that a financial crisis in Russia may curb appetite for commodities.
* Chicago Board of Trade wheat futures surged 4 percent on Wednesday, rising for a fifth straight session on worries that Russia, a key global supplier, might restrict exports to cool domestic prices, traders said.
* World oil prices jumped as much as 6 percent on Wednesday before closing off their peaks as weeks of nearly non-stop selling abruptly halted, and traders said failure to break below key chart support levels meant a long rout may be running out.
MARKET NEWS
* Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.
RELATED
> China approves imports of Viptera corn, two types of soybeans- Vilsack
> USDA to issue long-term crop data early in bid to be more timely
> Normalized relations with Cuba positive for US agriculture-USDA
> COLUMN-Corn bulls shouldn't get too excited about China's GMO corn nod:Maguire
> Syngenta drops lawsuit against Bunge over biotech Viptera corn
> Russia curbs grain exports, traders call it state regulation
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-20 palm oil exports on Dec. 22.
Palm, soy and crude oil prices at 0044 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4926 -20.00 4892 4970 566780
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.77 -1.40 0.00 0.00 0
INDIA PALM OIL DEC4 415.50 -1.40 413.00 416.60 631
INDIA SOYOIL DEC4 582.80 +0.60 579.00 582.80 6240
NYMEX CRUDE JAN5 56.64 +0.17 55.80 56.88 1432
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures ended a three-day losing streak on Wednesday on a technical rebound although persistent weakness in crude oil capped the gains, with investors nervous that a financial crisis in Russia may curb appetite for commodities.
* Chicago Board of Trade wheat futures surged 4 percent on Wednesday, rising for a fifth straight session on worries that Russia, a key global supplier, might restrict exports to cool domestic prices, traders said.
* World oil prices jumped as much as 6 percent on Wednesday before closing off their peaks as weeks of nearly non-stop selling abruptly halted, and traders said failure to break below key chart support levels meant a long rout may be running out.
MARKET NEWS
* Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.
RELATED
> China approves imports of Viptera corn, two types of soybeans- Vilsack
> USDA to issue long-term crop data early in bid to be more timely
> Normalized relations with Cuba positive for US agriculture-USDA
> COLUMN-Corn bulls shouldn't get too excited about China's GMO corn nod:Maguire
> Syngenta drops lawsuit against Bunge over biotech Viptera corn
> Russia curbs grain exports, traders call it state regulation
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-20 palm oil exports on Dec. 22.
Palm, soy and crude oil prices at 0044 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4926 -20.00 4892 4970 566780
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.77 -1.40 0.00 0.00 0
INDIA PALM OIL DEC4 415.50 -1.40 413.00 416.60 631
INDIA SOYOIL DEC4 582.80 +0.60 579.00 582.80 6240
NYMEX CRUDE JAN5 56.64 +0.17 55.80 56.88 1432
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel